Due to the US market being closed for Martin Luther King Jr. Day, the focus of global markets has shifted to geopolitical tensions. US President Trump announced that to facilitate the acquisition of Greenland, tariffs of 10% will be imposed on Denmark, Norway, and six other European countries starting February 1st, with plans to raise the rate to 25% on June 1st. Trump stated that the tariffs will remain in effect until a "full acquisition of Greenland" agreement is reached. This move has sparked strong condemnation from multiple European countries, calling it "extortion," and threatening retaliatory measures, which has heightened concerns about a new round of trade wars and rapidly increased risk aversion sentiment. As a result, spot gold prices surged over 2% intraday, hitting a record high of $4690 per ounce; spot silver rose even more, exceeding 4% at one point, also reaching a historic high of $94 per ounce. Bank of America Chief Investment Strategist Michael Hartnett believes that Trump is pushing for global fiscal expansion, forming a "New World Order = New Bull Market," with the gold and silver bull markets expected to continue. The long-term target for gold could break through $6000, but the biggest risk lies in the rapid appreciation of the yen, won, and New Taiwan dollar, which could trigger a global liquidity crunch. Looking ahead, market attention will focus on the upcoming vote in the US Senate on the Crypto Market Structure Act and the Supreme Court's ruling on the legality of Trump's use of emergency powers to impose tariffs, both of which will be key variables influencing market direction.